"In addition, Waze's research and development centre will remain in Israel for at least three years, as will the company's CEO, Noam Bardin. Waze will retain its independent identity both as a company and as a brand," it quoted "sources" as saying.

"Facebook had sought to fold the company into its California headquarters," Haaretz added.

Waze, which claims more than 40 million users, describes itself as an app bringing together "the world's largest community of drivers who work together to fight traffic, and save time and gas money on their daily commute".